DXY Weekly Price is nearing a very important price point 88, after breaking the massive symmetrical in 2014, it never had a pullback near to the triangle except for last year's fall which is ongoing. Pre-break out of the symmetrical triangle a well respected uptrend line was formed in 2011. After more than three and half years price is finally coming to re-test...
After a head and shoulders pattern that is now active, me may see the dollar getting stronger. So keep an eye for longs on the dollar pairs and short on the EUR/USD pair. I am just waiting for a break of the counter trendline as a confirmation.
Great news for Dollar bulls. On the weekly time frame the dollar index has finally broken the upper range. This is a strong indication that we might finally see a trend reversal and a stronger dollar over the next weeks. Previous down trend lasted 25 weeks if you start counting from the start of the channel. If you like to hold position for a few days and make...
Currently the Dollar Index is hard to predict, it can go either way and on neither time frame there's a clear trend. So I have placed the daily and the 4 hour next to each other to see if we can make a prediction. First the daily time frame that will tell the trend for the next week. There's A LOT of room down to the lower range of the bigger channel and some...
I had no intention of publishing this analysis yesterday as I thought Dollar Index (DXY) would continue its consolidation mode for several days. However, when I saw 4-hour chart close above the drawn ascending triangle, I had to publish this analysis. For the past several days, I've been watching this Index as this is one of the keys on trading Dollar pairs....
The past days the Dollar Index has been touching the lower range, it lackek bullish momentum to bounce back up cancelin the 5th wave. ADX shows that the bearish trend is still strong while the Stoch Rsi still indicates strong sell pressure. Because of this we can assume that the Dollar Index will break-out of the lower range next week. Possible targets 98 and 97....
The dollar's had a great bull-run, but it looks like we may have reached the top. If we begin to consolidate strongly, look out for weakness at the bottom of the dip as that may present an excellent buying opportunity.
This is only a trading capability - no recommendation !!! Next week i`ll confirm or change my opinion about this SetUp :) Buying/Selling or even only watching is always your own responsibility ... Best regards Aaron